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Jakarta Post

RI benefitting from China’s love of nickel

  • The Jakarta Post

  /   Thu, November 16 2017   /  01:24 am

Given its plan to boost the use of electric vehicles, China’s love of nickel is projected to remain robust in the years to come, making it crucial for the country to make long-term investments in Indonesia, which is home to 40 percent of the world’s high-grade lateritic nickel ore.

The price of benchmark nickel for three-month delivery on the London Metal Exchange (LME) reached US$12,945 per ton on Nov. 7, the highest price since June 2015, on the back of soaring demand from China.

Within the first nine months of 2017, China imported 26 million tons of nickel ore and concentrates, up nearly 9 percent compared with the same period last year. In September alone, its nickel imports stood at 5.67 million tons, the highest monthly figure since January 2014.

Nickel is also used widely in mobile phones, food preparation equipment, buildings, steel products and power gen...